Ipsen: UBS initiates coverage with buy; targets 140 euros
(CercleFinance.com) - UBS has initiated its coverage of the French pharmaceutical stock Ipsen with a buy rating and a 12-month target of 140 euros, which suggests upside potential of 22%.
According to a research report, “the market is under-estimating the potential of Ipsen's key oncology drugs,” and that "the company should hit its 2020 sales target of >E2.5bn with ease (potentially even a year early)."
According to UBS, Ipsen's flagship treatments, Somatuline and Cabometyx (about 42% of expected revenues in 2018), will grow faster than the market expects: UBS' forecasts to 2022 exceed the consensus by about 10%.
The target of sales of over 2.5 billion euros could therefore "potentially" be reached a year ahead of schedule, UBS speculates. This would leverage profits and prompt UBS to set its EPS estimates at 11% to 16% above the consensus from 2019 to 2022.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
According to a research report, “the market is under-estimating the potential of Ipsen's key oncology drugs,” and that "the company should hit its 2020 sales target of >E2.5bn with ease (potentially even a year early)."
According to UBS, Ipsen's flagship treatments, Somatuline and Cabometyx (about 42% of expected revenues in 2018), will grow faster than the market expects: UBS' forecasts to 2022 exceed the consensus by about 10%.
The target of sales of over 2.5 billion euros could therefore "potentially" be reached a year ahead of schedule, UBS speculates. This would leverage profits and prompt UBS to set its EPS estimates at 11% to 16% above the consensus from 2019 to 2022.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.